Gold rebounds from yearly low, silver returns above $50 as oil falls

Rebound after the selloff

Gold returned above $3,940 per ounce on Monday, adding $66.11, or 1.70%, to $3,941.95 per troy ounce as of 20:15 GMT. This came after a fall to $3,870.27 on Friday — the lowest level since October 2025, as reported by Anadolu. The metal remains about $72 above Friday's low, but has still not reclaimed the $4,000 mark lost during the selloff.

Silver rises faster, but lags over the month

Silver rose 3.45% to $50.58 per ounce, returning above the psychologically important $50 level after an 11-month low. Silver's percentage gain was roughly twice gold's, but given the preceding collapse, the metal's position remains noticeably weaker: over the month silver fell 17.07% versus 4.78% for gold.

What lay behind the selloff and the rebound

On Friday, gold fell 3.5% amid a selloff in technology stocks, including artificial intelligence-related companies: some investors sold assets to raise cash, while investors who received margin calls closed gold positions to cover losses elsewhere — adding pressure on the metal. On Monday, however, the pressure eased: oil fell more than 6% after Iranian negotiators met with Qatari mediators in Doha on Sunday for the third consecutive day on the issue of ending the American-Israeli war against Iran. Diplomatic progress raised hopes that disruptions to Middle Eastern oil supplies could ease, and cheaper oil reduces fuel and transportation costs — one source of inflation.

Fed rates as a factor for precious metals

The situation matters for gold and silver because lower inflation affects rate expectations: the higher rates are, the more attractive interest-bearing assets become compared to precious metals, which yield no interest. The Federal Reserve on October 28 left the base rate at 3.75–4% in a 10–2 vote: Lisa Cook and Beth Hammack voted for a quarter-point hike. The regulator noted that inflation remains elevated and said it would assess incoming data on the way to the 2% target. According to Anadolu's assessment, falling oil prices weaken one inflationary factor just as the Fed considers another rate hike — against the backdrop of the upcoming US midterm elections.